Kelly Services (NASDAQ:KELYA) Given Outperform Rating at Barrington Research

Barrington Research reissued their outperform rating on shares of Kelly Services (NASDAQ:KELYA) in a report released on Friday, Benzinga reports. Barrington Research currently has a $29.00 price target on the business services provider’s stock.

Separately, StockNews.com lowered Kelly Services from a buy rating to a hold rating in a research report on Friday, August 9th.

Kelly Services Price Performance

KELYA opened at $21.12 on Friday. The stock’s 50 day simple moving average is $21.11 and its 200 day simple moving average is $22.17. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.61. Kelly Services has a 1 year low of $17.40 and a 1 year high of $25.27. The firm has a market cap of $750.22 million, a price-to-earnings ratio of 15.19, a PEG ratio of 0.65 and a beta of 1.19.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.15. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Kelly Services had a return on equity of 7.82% and a net margin of 1.09%. Kelly Services’s revenue for the quarter was down 13.1% compared to the same quarter last year. During the same period last year, the company earned $0.36 EPS. As a group, analysts predict that Kelly Services will post 2.49 earnings per share for the current year.

Kelly Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Wednesday, August 21st. Kelly Services’s payout ratio is 21.58%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. raised its stake in Kelly Services by 6.8% during the second quarter. Federated Hermes Inc. now owns 10,454 shares of the business services provider’s stock valued at $224,000 after buying an additional 668 shares during the last quarter. Bailard Inc. raised its stake in shares of Kelly Services by 6.9% in the second quarter. Bailard Inc. now owns 10,874 shares of the business services provider’s stock worth $233,000 after purchasing an additional 700 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Kelly Services in the second quarter worth $30,000. Innealta Capital LLC purchased a new position in shares of Kelly Services in the second quarter worth $39,000. Finally, nVerses Capital LLC purchased a new position in shares of Kelly Services in the second quarter worth $47,000. Hedge funds and other institutional investors own 76.34% of the company’s stock.

About Kelly Services

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment delivers staffing, outcome-based, and permanent placement services providing administrative, accounting, and finance; light industrial; contact center staffing; and other workforce solutions.